Edtech firm PhysicsWallah made its trading debut on Tuesday, with the company's shares being listed at a premium of 33 per cent at the National Stock Exchange (NSE). Top executives of the company were present at the ceremony
Founder and CEO Alakh Pandey got loud cheers from his wife Shivani Dubey, who was seated in the front row at the NSE listing ceremony in Mumbai.
Dubey joined him in the front while the company's chief financial officer (CFO) Amit Sachdeva was speaking. “A bigger applause for Alakh sir for igniting the spark five to 10 years ago, for landing us where we are today,” Sachdeva said.
Sitting next to her husband, Shivani Dubey was spotted applauding as the other top executive of PhysicsWallah spoke.
Alakh Pandey and Shivani Dubey married in February 2023. Pandey had shared photos from his wedding, calling Dubey his “hum safar (life companion).”
At the listing event, Pandey spoke the company's journey and thanked all those who supported him.
"There's an Einstein in India who is selling tea on the roads of Bihar, there is a Madame Curie in India who is selling momos on the roads of Gurgaon. We have to filter them and bring them to the real Indian economy. That is the mission of PhysicsWallah," he said.
PhysicsWallah shares surge 33% in market debut
{{/usCountry}}"There's an Einstein in India who is selling tea on the roads of Bihar, there is a Madame Curie in India who is selling momos on the roads of Gurgaon. We have to filter them and bring them to the real Indian economy. That is the mission of PhysicsWallah," he said.
PhysicsWallah shares surge 33% in market debut
{{/usCountry}}The company's market valuation stood at ₹43,453.03 crore.
The initial public offering (IPO) of PhysicsWallah received nearly 2 times subscription on the final day of bidding on Thursday last week.
The PhysicsWallah listing comes days after a strong of trading debuts by companies such as Groww and Pine Labs. It is the first edtech firm to go public after the sector saw Byju's going into bankruptcy and players such as Unacademy struggling with layoffs.
(Also Read: Farmer's son who became a billionaire: The meteoric rise of Groww CEO Lalit Keshre)
Google Trends
The keyword “physics wallah share price” was among the most searched terms on Google on Tuesday, with over 50,000 searches. "physics wallah ipo" and "physics wallah ipo share price" were other top searched terms.
(With inputs from PTI and Reuters)